{"id":23727,"date":"2016-08-23T17:32:11","date_gmt":"2016-08-23T10:32:11","guid":{"rendered":"http:\/\/www.siamlandbank.com\/propertynews\/property-news\/indian-real-estate-may-be-a-world-leader-by-2030\/"},"modified":"2016-08-23T17:47:10","modified_gmt":"2016-08-23T10:47:10","slug":"indian-real-estate-may-be-a-world-leader-by-2030","status":"publish","type":"post","link":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/indian-real-estate-may-be-a-world-leader-by-2030\/","title":{"rendered":"Indian real estate may be a world leader by 2030"},"content":{"rendered":"


\nIndian urbanisation will be a force to reckon with in the next decades
\nThe Indian subcontinent lights up from space. Image credit: Rakchai Duangdee
\nBy 2030, India\u2019s population will have grown so large that its real estate and construction sector will become the third largest on earth, according to a background paper released Friday by KPMG and the National Real Estate Development Council.
\nReal estate and construction will then provide livelihoods to some 75 million people \u2014 more than any industry. The sector will account for 15 percent of the Indian gross domestic product (GDP).
\nBy then, 583 million will live in India\u2019s urban areas, compared with last year\u2019s 420 million, which has made the country the world\u2019s second-largest urban community. The current housing shortage in the country\u2019s urban areas, however, stands at 20 million.
\nMore: Donald Trump behind two luxury residential towers in India
\nBy 2022, India will need to build 110 million homes to shelter the entire populace, in both urban and rural areas.
\nIndia\u2019s government is ramping up efforts to take the edge off a possible housing crisis. Over the next seven years, the government will be constructing 2 crore homes under the banner of \u201cPradhan Mantri Awas Yojana.\u201d Another flagship government initiative, the Smart Cities mission, envisages improvements in core infrastructure for 100 cities across the subcontinent by 2020. Indian policymakers have also laid out legislative support, such as the Real Estate Act and the loosening of foreign direct investment (FDI) caps, to facilitate the country\u2019s rapid urbanisation.
\nAccording to the research, the size of India\u2019s construction market will have ballooned to USD1 trillion by 2025. India has several infrastructure projects in the offing, including 432 road projects worth INR6.5 trillion (USD97 billion) and 40 rapid transit projects worth INR4.5 trillion (USD67 billion).
\nRead next: Asian developers are investing billions in India
\n
\nSource : property-report.com
\nRead more…Indian real estate may be a world leader by 2030<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Indian urbanisation will be a force to reckon with in the next decades The Indian...<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"false","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"spay_email":"","footnotes":"","jetpack_publicize_message":"","jetpack_is_tweetstorm":false,"jetpack_publicize_feature_enabled":true},"categories":[1],"tags":[],"class_list":["post-23727","post","type-post","status-publish","format-standard","hentry","category-property-news"],"jetpack_featured_media_url":"","jetpack_publicize_connections":[],"jetpack_sharing_enabled":true,"jetpack_shortlink":"https:\/\/wp.me\/p75ss1-6aH","jetpack-related-posts":[{"id":27899,"url":"https:\/\/www.siamlandbank.com\/propertynews\/property-news\/pressed-for-land-singaporean-developers-explore-growing-indian-cities\/","url_meta":{"origin":23727,"position":0},"title":"Pressed for land, Singaporean developers explore growing Indian cities","date":"September 30, 2016","format":false,"excerpt":"\r From Millennium City to mountain towns, India\u2019s cities are piquing interest \u2018Cyberhub\u2019 in Gurgaon. 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